This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for the construction of complex molecules, enabling the formation of carbon-carbon bonds. Its application is significant in the pharmaceutical industry, where it aids in the development of drug candidates by facilitating the incorporation of aryl groups into target structures. Additionally, it is employed in materials science for the synthesis of advanced organic materials, including polymers and liquid crystals, due to its stability and reactivity under mild conditions. Its role in catalysis and functional group transformations further extends its utility in research and industrial processes.